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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES ACT OF 1934
Date of Report (Date of earliest event reported) June 24, 1998
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AMERICAN ARTISTS FILM CORPORATION
(Exact name of registrant as specified in its charter)
MISSOURI 000-20759 43-1717111
(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
1245 FOWLER ST., N.W. 30318
ATLANTA, GEORGIA 30318 (Zip Code)
(Address of principal executive offices)
(404) 876-7373
Registrant's telephone number,
including area code
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ITEM 5. OTHER EVENTS
The following events, deemed of importance to the shareholders, were
completed on the dates indicated below:
(a) On June 24, 1998, certain of the Company's directors converted
1,789,696 shares of their Class B common stock into an equal number of
shares of Class A common stock. Upon conversion there were 2,876,618 shares
of Class A common stock and 3,538,643 shares of Class B common stock
outstanding.
(b) On June 25, 1998, the Company amended its 1996 Stock Option Plan (the
"Plan"), primarily to allow for the issuance of an additional 2,500,000
stock options and/or stock appreciation rights, as provided for by the
Plan.
(c) On June 25, 1998 , the Company filed a Form S-8 registration statement
to register the 2,500,000 additional shares underlying the 1996 Stock
Option Plan, as amended, in addition to 315,051 shares underlying employee
stock options previously granted under the 1996 Stock Option Plan.
(d) On June 30, 1998, the Company granted 1,000,000 stock options to
employees of the Company in consideration of past services. The shares
underlying these stock options were registered under Form S-8 on June 25,
1998. These stock options were immediately vested and were granted at the
closing market price for the Company's Class A common stock on June 30,
1998.
ITEM 7. FINANCIAL STATEMENTS & EXHIBITS
Exhibit 4 American Artists Film Corporation 1996 Stock Option Plan, as
Amended is incorporated by reference from Form S-8 as filed on
June 26, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMERICAN ARTISTS FILM CORPORATION
By: /s/Steven D. Brown
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Steven D. Brown, Chairman and
Chief Executive Officer
Date: July 9, 1998
